The panel, headed by Justice Silas Oyewole (retd.), submitted the report to Governor Ayodele Fayose on Wednesday.
The panel, in its report, asked former governor Kayode Fayemi to account for the whereabouts of N2.75bn allocated from the N25bn bond obtained by the government for the construction of an ultra-modern market in Ado Ekiti, which was allegedly never executed.
The commission also said the contractor that handled the furnishing of the government house built by the Fayemi administration should be made to refund N324.8m to the government.
The panel noted that the contract should not have been more than N280m.
The panel said it found out that KITWOOD Nigeria Limited, to which the furnishing contract of over N600m was awarded, had no traceable address because “the address on the Letter of Award is a virgin land opposite the new Central Bank along the new Iyin Road, Ado Ekiti.”
On the purchase of vehicles, the panel said “claim by Coscharis Motors that it supplied 235 and/or 250 vehicles was fraudulent and was fraught with so many contradictions.”
The panel queried the claim “that Coscharis Motors supplied some vehicles outside Ekiti State, especially at the Ibadan Liaison Office when the Ekiti State Government does not have a liaison office in Ibadan.”
It said, “In respect of this, seven vehicles were supplied outside the state and signed for by unknown persons.
“That Coscharis Motors only supplied 219 vehicles to the Ekiti State Government and that 17 Joylong buses were supplied to the Ekiti State Government as gift but later carted away.”
On the controversial N852.9m State Universal Education Board’s fund, the commission said it was clear that the Fayemi administration hoodwinked the Federal Government into paying its own matching grant by obtaining N852, 936,783.12 loan from Access Bank on November 25, 2013 without perfecting documentation in respect of the loan, thereby flouting the provisions of Section 11(2) of the UBEC Act, 2004.
The panel recommended that Access Bank should be blacklisted and made to pay damages for charging excess interest on the loan.
Receiving the reports, Fayose said asking people to account for their stewardship should not be termed as witch-hunt, as leaders must be accountable to the led.
Fayose said, “I appreciate the panel members for a thorough job done. The time and energy they put into the job. The panel waited for the outcome of the court case instituted by former governor Kayode Fayemi before it concluded its job. We did this because we believe in the rule of law and if the court had ruled that we should stop, we would have stopped.
“There is no witch-hunt in a situation whereby people are asked to account for their stewardship. I am glad that the Federal Government is also pursuing the policy of accountability and we are following suit here too.”
Fayose subsequently inaugurated a four-man administrative panel to study the report and come out with a White Paper.
The administrative panel is headed by the state’s Attorney General and Commissioner for Justice, Mr. Kolapo Kolade.
Earlier, Justice Oyewole said though the panel was given three months to do its work when inaugurated in May this year, it had to take its time to see the end of the litigation by Fayemi.
In another development, Fayose has also set up a four-man Chieftaincy Commission of Inquiry to look into agitation by some communities for autonomy and sundry issues.
The panel, also headed by Justice Oyewole, has six months to complete its work and could also look into other issues relating to its terms of reference.
Other members of the commission are Ojo Ayenigba, Magistrate Alex Adekunle and Gbenga Adaramola.
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